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- Epic Sciences
Epic Sciences Funding, Investors & Competitors
Epic Sciences has raised $189M across 5 funding rounds, most recently a $24M Series G in April 2023.
Last Epic Sciences funding round
$24M
Series G · Apr 2023
Cumulative funding Epic Sciences raised
$189M
across 5 funding rounds
Key investors in Epic Sciences
Domain Associates
Blue Ox Healthcare Partners
Labcorp
Arsenal Capital Partners
Deerfield Capital Management
RMI Partners
Viventures
Genomic Health
About Epic Sciences
Epic Sciences is a San Diego-headquartered cancer diagnostics company utilizing a circulating tumor cell platform to profile biopsies for personalized therapy. Its assays detect rare CTCs via nuclear imaging and AI analysis, supporting clinical trials with partners like Janssen and AstraZeneca. Collaborations with Mayo Clinic and NCI advance prostate and breast cancer biomarkers.
Founded
2008
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Services
Epic Sciences Funding History
Epic Sciences has raised a total of $189M across 5 funding rounds.
Epic Sciences' first fundraising round was a $30M Series C in July 2014. The most recent completed round was a $24M Series G in April 2023.
Epic Sciences funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Apr 2023 | Series G | Arsenal Capital Partners (lead); Deerfield Capital Management (lead); Domain Associates; Labcorp; Blue Ox Healthcare Partners | $24M | Epic Sciences is a San Diego-based diagnostics company developing liquid biopsy solutions for cancer, focusing on detecting and characterizing circulating tumor cells (CTCs) to personalize treatment, monitor drug resistance, and support oncology clinical trials. Their platform enables non-invasive detection of genetic and molecular changes in cancer patients throughout their journey, partnering with pharmaceutical companies and cancer centers. Key products include DefineMBC, a comprehensive blood-based test with three components for metastatic breast cancer profiling. On April 14, 2023, Epic Sciences completed a $24 million Series G funding round led by Arsenal Capital Partners and Deerfield Management, with participation from Blue Ox Capital, Domain Associates, and LabCorp Drug Development. This followed a $43 million Series F round on June 1, 2022, bringing total capital raised in the prior 12 months to $67 million and overall funding to $216 million across 10 rounds. The Series G proceeds fund commercial infrastructure to support the launch of DefineMBC tests. Earlier, the Series F accelerated commercialization of DefineMBC and expanded liquid biopsy offerings for global oncology trials. Post-round, Epic Sciences announced Medicare coverage for a breast-cancer focused ctDNA gene panel on April 19, 2023. Epic Sciences operates in the competitive biotech space for precision oncology diagnostics, with rivals like DiaCarta and Mission Bio. |
| Jun 2022 | Series F | Arsenal Capital Partners (lead); Labcorp; Blue Ox Healthcare Partners; Deerfield | $43M | Epic Sciences, Inc. is a privately held diagnostics company based in San Diego, CA, developing and marketing novel diagnostics to guide therapy selection and monitor disease progression for prostate and breast cancers. Its liquid biopsy platform uses proprietary cell analysis and cell-free analysis for comprehensive cancer profiling, partnering with pharmaceutical companies and cancer centers worldwide via its CAP/CLIA-accredited lab. In the first close of its Series F financing announced May 31/June 2, 2022, Epic Sciences raised $43 million led by Arsenal Capital Partners, with participation from existing investors Blue Ox Healthcare Partners, Deerfield Management, and Labcorp. The funds will accelerate the commercial launch of DefineMBC™, a comprehensive profiling solution for metastatic breast cancer, and expand its multi-omic platform including single-cell sequencing and data analytics infrastructure for global oncology trials. Concurrent with the financing, Epic appointed two new board members: James Rothman PhD, Nobel Laureate and Chair of Arsenal’s Healthcare Advisory Board, formerly Chief Scientist at GE Healthcare; and Richard Eglen PhD, Senior Advisor at Arsenal with experience at PerkinElmer, Roche Bioscience, and Corning Inc. A subsequent Series G round of $24M occurred in April 2023 with similar investors including Domain Associates. |
| Sep 2018 | Series E | Blue Ox Healthcare Partners (lead); Altos Capital Partners; Deerfield Capital Management; Sabby Management; Alexandria Venture Investments; Viventures; Domain Associates; Genomic Health; Varian | $52M | Epic Sciences is a San Diego-based diagnostics company specializing in oncology, using a platform called No Cell Left Behind that applies computer vision and machine learning to analyze rare cancer cells from blood samples via liquid biopsy. This enables predictive tests to match patients' individual cancer cells to personalized drug therapies, aiming to prolong life, reduce ineffective treatments, and lower costs, aligning with value-based care trends. Its first product, the AR-V7 Nucleus Detect test for late-stage metastatic prostate cancer, is distributed exclusively in the US by partner Genomic Health. On September 12, 2018, Epic Sciences completed a $52 million Series E financing round led by Blue Ox Healthcare Partners, with participation from new investors Deerfield Management and Varian, alongside existing investors including Altos Capital Partners, Genomic Health, Domain Associates, VI Ventures (Vivenovures), Alexandria Venture Investments, and Sabby Management. Blue Ox, a private equity firm focused on growth-stage healthcare companies, typically invests up to $30 million but led this larger opportunity. Proceeds are designated to accelerate clinical studies for Epic's oncology decision support services in its pipeline, integrate its platform with electronic medical records and big data analytics, execute its long-term growth plan, and commercialize disruptive innovations. The company had previously raised significant capital, including a $40 million Series D in May 2017 led by Hermed Capital, $30 million Series C in 2014 with Roche Venture Fund and Pfizer Ventures, $13 million Series B in 2012, and an unconfirmed $2.5 million Series A in 2009, bringing total funding to at least $135 million by Series E. Epic operates in the competitive liquid biopsy diagnostics market, where peers like Guardant Health have raised over $500 million and pursued IPOs, though US adoption lags behind regions like Europe and Asia. Partners and investors provide strategic, operational, and industry expertise to advance Epic's goals in transforming late-stage cancer treatment. |
| Apr 2017 | Series D | Hermed Capital (lead); Sabby Capital; Altos Capital Partners; Viventures; Domain Associates; RMI Partners; Genomic Health; Pagoda Investment; Reach Tone | $40M | Epic Sciences, a San Diego-based diagnostics company spun out of the Scripps Research Institute in mid-2008, develops blood-based liquid biopsy tests that predict drug response in cancer patients using its proprietary No Cell Left Behind technology for rare cell detection, imaging, and analytics. The company completed a $40 million Series D financing on April 28, 2017, led by Hermed Capital, with participation from Altos Capital Partners, Domain Associates, Genomic Health, Pagoda Investment, Reach Tone Limited, RMI Partners, Sabby Capital, and VI Ventures. This brought total equity financing to $85.5 million at that point. Epic had previously raised $30 million in a 2014 Series C round backed by Roche Venture Fund, Pfizer Venture Investments, Domain Associates, Arcus Ventures, and RMI Partners, following a $13 million Series B in 2012 and $2.5 million Series A in 2009. The Series D funds were allocated to accelerate clinical studies for its oncology test pipeline, enhance its technology for characterizing rare leukocyte populations with next-generation digital imaging and big data analytics, and support commercialization efforts, including a partnership with Genomic Health for the Oncotype DX AR-V7 Nucleus Detect test. At the time, Epic had around 70 employees, over 42 industry partnerships, and more than 200 clinical trials underway, positioning it strongly in precision oncology diagnostics. Subsequent financings included a $52 million round in 2018, $43 million Series F in 2022 led by Arsenal Capital Partners, and $24 million Series G in 2023. |
| Jul 2014 | Series C | Arcus Ventures (lead); RMI Partners (lead); Pfizer Venture Investments; Roche Venture Fund; Domain Associates | $30M | Epic Sciences, a San Diego-based biotech company, developed a circulating tumor cell (CTC) diagnostic platform that analyzes rare CTCs from blood samples to provide real-time insights into genomic and proteomic changes, enabling personalized cancer therapy monitoring and drug resistance detection without invasive biopsies. The platform aims to deliver a 'movie' of cancer evolution rather than a single snapshot from tissue biopsies, targeting metastatic cancers that spread via CTCs in the bloodstream. On July 30, 2014, Epic Sciences raised $30 million in a Series C preferred stock financing round, led by new investors Arcus Ventures and RusnanoMedInvest (RMI Partners), alongside existing backers Domain Associates, Roche Venture Fund, and Pfizer Venture Investments, plus undisclosed individuals. The funds were allocated to automate the technology, commercialize the 'no cell left behind' test, and support multiple clinical studies for 510(k) regulatory approval. At the time, Epic Sciences demonstrated strong early traction with nearly 40 clinical trials underway using its test and over 30 partnerships with pharmaceutical companies, up significantly from just six the previous year. The company added Greg Lucier, former CEO of Life Technologies (acquired for $13.6 billion), to its board. |
Who has invested in Epic Sciences?
20 investors have backed Epic Sciences across its funding rounds, including Domain Associates, Blue Ox Healthcare Partners, Labcorp, Arsenal Capital Partners, Deerfield Capital Management and RMI Partners.
Lead investors include Arsenal Capital Partners, Deerfield Capital Management, Blue Ox Healthcare Partners, Hermed Capital, Arcus Ventures and 1 other investor.
Epic Sciences Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Participant | Jul 2014 | ||
| 3 | Lead | Sep 2018 | ||
| 2 | Participant | Apr 2017 | ||
| 2 | Lead | Sep 2018 | ||
| 2 | Participant | Apr 2017 | ||
| 2 | Participant | Jun 2022 | ||
| 2 | Lead | Jul 2014 | ||
| 2 | Participant | Apr 2017 | ||
| 2 | Lead | Jun 2022 | ||
| 1 | Participant | Apr 2017 | ||
| 1 | Participant | Jul 2014 | ||
| 1 | Participant | Jul 2014 | ||
| 1 | Lead | Jul 2014 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialEpic Sciences Competitors
Epic Sciences competitors include listed companies like Illumina, 10x Genomics and Personalis, and private ones like Mammoth Biosciences, Embark and Inscripta.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $4.3B | $1.4B | $37B | 8.4x | ||
| Publicly listed | $643M | ($16M) | $10B | 15.2x | ||
| Publicly listed | $70M | ($78M) | $1.7B | 20.1x | ||
| Private | - | - | $1B | - | ||
| Private | - | - | $700M | - | ||
| Private | - | - | $565M | - |
Epic Sciences Public Comps
Epic Sciences is still privately-owned, but its public comps include Roche, Natera, Illumina, Guardant Health, Twist Bioscience, 10x Genomics, BillionToOne, Wantai BioPharm, Celcuity and GRAIL.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $77B | $26B | 5.0x | 4.9x | 14.6x | 12.4x | |||
| $2.3B | ($266M) | 22.5x | 19.0x | (195.0x) | (261.5x) | |||
| $4.3B | $1.4B | 8.8x | 8.4x | 27.1x | 30.0x | |||
| $982M | ($408M) | 25.7x | 20.2x | (61.8x) | (129.5x) | |||
| $377M | ($63M) | 27.2x | 22.6x | (161.4x) | (316.8x) | |||
| $643M | ($16M) | 14.9x | 15.2x | (591.7x) | (160.9x) | |||
| $305M | $12M | 15.8x | 11.7x | 401.1x | 75.4x | |||
| $271M | ($24M) | 15.5x | - | (174.0x) | - | |||
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Common questions about Epic Sciences
| When was Epic Sciences founded? | Epic Sciences was founded in 2008. |
| Where is Epic Sciences headquartered? | Epic Sciences is headquartered in San Diego, CA, United States. |
| Is Epic Sciences publicly listed? | No, Epic Sciences is a private, VC-backed company. |
| How much funding has Epic Sciences raised? | Epic Sciences has raised $189M across 5 funding rounds. |
| What was Epic Sciences' last funding round? | Epic Sciences' last funding round was a $24M Series G in April 2023, led by Arsenal Capital Partners and Deerfield Capital Management. |
| Who are Epic Sciences' investors? | Epic Sciences' investors include Domain Associates, Blue Ox Healthcare Partners, Altos Capital Partners, Deerfield Capital Management, Viventures, Labcorp, RMI Partners, Genomic Health, Arsenal Capital Partners, Sabby Capital and 10 others. |
| Which companies are comparable to Epic Sciences? | Companies comparable to Epic Sciences include Illumina, 10x Genomics, Personalis, Mammoth Biosciences, Embark and Inscripta. |
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